The aim of this paper is to analyse the impact of the European Funds received by the Autonomous Community of Madrid during the period 2000-2006. To carry out this objective, we shall work a social accounting matrix with data from the year 2000, SAM-MAD-2000. A model of linear multipliers will be used to analyse how exogenous income injections coming from these Funds bring about an impact on endogenous accounts. We consider the use of a linear multiplier technique adequate since the strategy traditionally followed by European Regional Policy has been that of fostering development through investments that bring about structural changes in key sectors that boost economic growth in the region. This technique makes it possible to identify the sectors that benefit more from the injections of income from European Funds. The advantage of this methodology versus the input-output methodology is its greater scope when reflecting the impact of community aid on all sectors of the economy, including Institutional Sectors.